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Commodities Briefing - Categorized | Commodity Crisis, Index, Market Moves more

Commodity index drops 50% from July record as world demand sags

Posted on 21 November 2008

From Bloomberg: Tumbling prices for crude oil, aluminum and soybeans sent the Reuters/Jefferies CRB Index of 19 raw materials down more than 50 percent from a record in July as the global recession sapped demand.

Crude fell 7.5 percent to the lowest close since May 2005, leading gasoline and heating oil lower. Soybeans sank 4.6 percent and copper touched the lowest price since July 2005. The CRB slid 4.2 percent to 230.35, the lowest since April 29, 2003. The index touched 473.97 on July 3, its highest ever….. Full Article: Source


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